“India’s external balances are deteriorating,” economists at Goldman Sachs Group Inc. wrote in a note Thursday, citing the terms-of-trade shock from higher commodities prices and weakening global growth.

Some Mumbai-based banks saw a dollar crunch last week, as outflows from Indian assets add to the pressure, according to Mizuho Bank Ltd. and IFA Global. The rupee dropped to a record low against the greenback on Wednesday.

The rupee depreciated 22 paise to a record low of 78.59 against the US dollar in opening trade on Tuesday.

The rupee opened at 78.51 per dollar and rose to 78.87 level, an all-time high, on June 28.

ICICI Direct, The Euro edged higher by 0.24% on Monday amid expectations that the European Central Bank will soon raise interest rates for the first time in more than a decade.

However, elevated crude prices and persistent foreign fund outflows restricted the rupee#39;s gain, forex dealers said.

ICICI Direct, The pound gained marginally by 0.11% on Friday amid weak dollar and strong retail sales data.

At the interbank foreign exchange, the rupee opened at 78.20 against the American dollar. In initial trade, the local currency witnessed a high of 78.19 and a low of 78.24 against the US dollar.

At the interbank foreign exchange market, the local currency opened at 78.26 and finally settled at its all-time low 78.32, unchanged from its previous close